Regular Savings Accounts: The Best Currently Available List!

JamesRobinson48

Interestingly, I see from its website that Monmouthshire BS has now restricted its Regular Saver Bond Issue 4 (much discussed on this thread lately) to face-to-face, in branch applications only.  Implicitly this small BS wasn't geared up to handle the sheer numbers.  It's not the first time they've done that:  if you're not local to the MonBS, sometimes you need to be quick!

typistretired

Mine is now showing as open and first deposit received yesterday 2nd September 2020.

lhsecons

typistretired said:

Mine is now showing as open and first deposit received yesterday 2nd October 2020.

A month early!!!

liamcov

typistretired said:

liamcov said:

I'm in the same position, what is the process now then (I haven't opened an account with the via post before) - will they send another letter with account details etc or will the account appear within their online banking?

I presume you have not yet received your letter which requires you to sign and send back.  That letter will give your account number but until they receive your signature and you make a deposit the account will not be fully opened.  I have other accounts with them so have online access already .

Thanks. Yes I received that and sent off my signature, I don't recall seeing any account number so I will just have to double check at whatever I've filed away.

So have I got this right - the account will only accept funds after they receive the signature and process that on their system whatever they need to do? But we don't necessarily know when that is unless it can be added to the online account?

I bet some of the staff are fuming with all this extra workload and having to deal with secure messages. But then again why create such a convoluted way of opening a savings account, who thought up all of these ridiculous hoops we have to jump through, or is it simply because they haven't caught up with the times yet.

typistretired

lhsecons said:.

A month early!!!

Well spotted! Must have been the excitement 😂

schiff

JamesRobinson48 said:

Interestingly, I see from its website that Monmouthshire BS has now restricted its Regular Saver Bond Issue 4 (much discussed on this thread lately) to face-to-face, in branch applications only.  Implicitly this small BS wasn't geared up to handle the sheer numbers.  It's not the first time they've done that:  if you're not local to the MonBS, sometimes you need to be quick!

This for me emphasises, if even emphasis was needed, how very useful the MSE Savings and Investment threads are to get into these things early. If it wasn't there I would be much poorer, taking the last few years into account. 

eskbanker

schiff said:

JamesRobinson48 said:

Interestingly, I see from its website that Monmouthshire BS has now restricted its Regular Saver Bond Issue 4 (much discussed on this thread lately) to face-to-face, in branch applications only.  Implicitly this small BS wasn't geared up to handle the sheer numbers.  It's not the first time they've done that:  if you're not local to the MonBS, sometimes you need to be quick!

This for me emphasises, if even emphasis was needed, how very useful the MSE Savings and Investment threads are to get into these things early.

Cause or effect: arguably it's prominence on MSE that causes small players to be overwhelmed and have to stem the flow....

typistretired

Saves them advertising fees though 

Gers

Just as a matter of interest - the MBS site has "Only one account per person is allowed or two joint accounts may be opened, per couple."

Is this unusual? Each half of a couple can have a joint account each... or am I reading it wrong?

typistretired

One single account each or 2 joint accounts either way only 2 accounts. Some couples may prefer everything to be joint